This follows discussion relating to increased ongoing compliance regulation which will maintain its momentum as we approach the implementation of the MCD on 21st March next year.
AOBP members now have access to an unrivalled package that will see their applications for FCA authorisation managed from start to finish by SimplyBiz’s CCC team.
The cost for a full authorisation is discounted from £1000 to £600 + VAT for AOBP members, with limited permissions application services also available again at a discounted rate where applicable.
Post authorisation, continued support services should be taken up by AOBP broker members as ongoing compliance is critical. The post authorisation, ongoing compliance service will also be available to AOBP broker members at £40 + VAT per month (usually £60). This support service includes:
- Access to the online compliance hub which contains documents, guidance and templates
- A dedicated helpdesk which is available 9 to 5, Monday to Friday
- Regular regulatory updates in respect to FCA expectations with any amendments made directly to the hub documentation where needed
- Invitations to SimplyBiz events that take place throughout the year
SimplyBiz has completed over 3,500 applications and has a near-perfect track record in these being accepted by the regulator. To date, they have a 100% success rate for consumer credit applications.
David Golder, Managing Director at the Consumer Credit Centre, part of the larger SimplyBiz Group, commented:
“We are delighted to be working with the Association of Bridging Professionals and look forward to providing the membership with compliance support and guidance specifically in the area of Consumer Credit regulation. This is of particular relevance now we are in the run up to the introduction of the Mortgage Credit Directive in March of next year.
“We have already established solid working relationships with AOBP's Executive Committee members, who, like ourselves, are keen to ensure that members are in the best possible position to thrive in the new regulated environment."
As part of the SimplyBiz Group’s commitment, they have also recently joined AOBP as an Associate member.
AOBP Chairman Rob Jupp, who used SimplyBiz’s Consumer Credit Centre for Brightstar’s own application, has found the process to be excellent.
"Brightstar recognises the importance of getting it right when it comes to regulation and so were keen to partner with SimplyBiz which is a long-established business with a wealth of experience and expertise."Time is of the essence as it is reported that the FCA is taking upwards of six months to get a fully complete application approved.
